One thing that can really stress people out is saving money for Christmas each year. But if you have a Christmas savings plan it takes out a big chunk of the stress that you would otherwise feel. And can keep you from having a big amount of debt starting out the new year.
Obviously the earlier you start, the more you can save. But if you’re like me, Christmas sneaks up on you every year. Then there is still time even in October to start saving up for Christmas this year.
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10 week Christmas Savings Plan
Ideally, you would put $100 a week into a savings account for Christmas to save $1000 in ten weeks. But that’s not always possible.
Some weeks you have more bills to pay or sudden expenses that come up. If that’s the case, you can download this free 8 week printable Christmas Savings challenge.
This is a fun and easy way to save money. The bonus boxes at the bottom are just for some extra savings if you’re able.
The most important thing is to make sure you have a solid budget in place before you really try to save money.
That way you can see if there are other things you can cut out temporarily to save more money.
Or you can try a “no spend week” and put what you would have spent towards your Christmas savings challenge.
It’s totally up to you to see which way works best for you. The main point is to save as much as you can in the weeks leading up to your Christmas shopping.
If you use the envelope system for savings make sure to include a Christmas envelope.
Another thing you can do is to save all the $5’s and pocket change that you come across. Which can add up pretty quickly.
Ways to Save Money for Christmas
One of the easiest ways to save money is to figure out where your extra money really goes each week and see what you can cut out to save more money.
Can you make your morning coffee at home instead of a daily Starbuck run? Or maybe meal prep to keep from eating out so much during the week?
If you’re spending a lot each week on either of these. Then these are the obvious things to cut out to save up money for Christmas.
Think about it. If you spend $30 a week on coffee and $60 on eating out. That’s $90 right there that you can save each week to get close to the $1000 in ten weeks for Christmas.
Work more or Overtime
Most places get busier around the holidays, and you can always ask for either more hours each week or to work some overtime if they offer it. It’s really the easiest way to earn more money so you can save more.
But if that’s not really something you want to do you can always look into a side job or hustle.
And with rising of the gig economy there is no shortage of things you can do to make some extra money each week. Some you can do full time. And others just a few hours here or there.
Some of the more popular side gigs to do right now are:
- Food delivery – With the rise of sites like Doordash and Uber Eats there are more people ordering food delivered to them from their favorite places that they used to not be able to get.
- Seasonal Work – Many retail stores and restaurants hire extra help for the holidays. So, you can pick up a part time job to earn some extra money for the holiday’s too. (Tip: some offer employee discounts you can use for your shopping too!)
- Personal Shopper- Just like with food delivery, more and more people are getting their groceries and other items delivered too. You can sign up with Instacart and do peoples shopping for them. And deliver it right to their homes.
- Taking Surveys- Online surveys tend to get a bad rap. But there are some sites that actually do pay you to take surveys and are legit. One of my favorites is Survey Junky. It’s easy to use and takes very little time. It’s a great way to earn some cash when waiting at the doctors or in line to pick up kids from school.
- Fivver or Upwork – Are you good with tech, or love writing. Then chances are there is someone out there that could use your skills. Joining Fivver or Upwork is a good way to pick up freelance jobs that take only a little bit of your time and effort. You may have to weed through scams though. But if you know want to look for, they are easy to spot early.
There are tons of other ways you can earn extra money. These are just a few that are my favorite.
A quick search online will show you hundreds of ways or you can check out my Simple Side Hustles post for more ideas.
Just make sure that you deposit your extra money into a Christmas Savings account or other savings account so you won’t be tempted to use it before you’re ready.
Final Thoughts on Christmas Savings Challenge
So we have covered some different ways you can use your current income to create a Christmas savings plan. And some ways to earn extra money for Christmas.
I hope you found this post helpful!
Don’t forget to grab your free printable Christmas Savings Challenge to help keep you on track!